MNT GOAT NEWS, 2 AUGUST

 VICE EXPECTS A REVERSE RETURN IN THE EXCHANGE RATE AND TALKS ABOUT THREE NEGATIVES

Representative Baqir Al-Saadi expected, on Monday, that the dollar exchange rate against the dinar will continue to decline in the coming days. Al-Saadi said, in an interview with Al-Maalouma, that “common external-internal factors were behind the rise in the exchange rates of the dollar in the parallel market in Iraq in recent weeks, in a way that raised public concern.”

More news….

A SOURCE REVEALS THE ISSUANCE OF SECRET IMPLEMENTATION INSTRUCTIONS FOR THE BUDGET!
An official source in the Budget Department of the Ministry of Finance indicated that instructions for implementing the budget were sent to the ministries, with government secrecy and unwillingness to announce the matter.

The source said in a press interview, “The Ministry of Finance has sent instructions to implement the budget to the ministries during the past days.”

The source added, on condition of anonymity, that “the government issued instructions to the ministries and asked them not to disclose this, in order to avoid the anger of some groups, whose contracts have been terminated, and the lecturers who were not included in the budget materials within its allocations.”

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OIL: REVENUES LAST MONTH AMOUNTED TO MORE THAN $8 BILLION

Today, Tuesday (August 1, 2023), the Ministry of Oil revealed the total exports and revenues achieved for the month of July, indicating that they amounted to more than 8 billion dollars, and exports of crude oil amounted to more than (106) million.

(Yet, Iraq still has 1/6 of a penny dinar? Are they teasing us?) 

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THE OIL-FOR-GAS AGREEMENT BETWEEN IRAQ AND IRAN ENTERS INTO FORCE

The barter agreement (oil for gas) between Iraq and Iran entered into force, starting today, Tuesday, August 1.

Hamid Hosseini, head of Iran’s Petroleum Products Exporters Union, declared in a statement to Iranian media that: “Iraq will send us about 30,000 barrels of crude oil and 70,000 barrels of diesel in exchange for gas exports, starting in August.”

(Part of the budget is to get contractors in to capture the NG being burned off the oil rigs as it is today. Yes, billions of cubic tons of gas just being wasted. Can they pipe this them to the power plants for electricity?)